Today, Niall Ferguson argues alongside Yoav Gallant that only the United States has the capability to destroy Iran’s fortified Fordow uranium enrichment site; David R. Henderson reviews a new book questioning popular narratives of economic decline and stagnation; and a policy brief from the Healthcare Policy Working Group examines the “valley of death” preventing medical innovations from reaching Medicare patients in a timely fashion following their approval by the FDA.
Determining America’s Role in the World
In a piece for The Free Press coauthored with Yoav Gallant, the former Israeli minister of defense, Senior Fellow Niall Ferguson argues that the job of taking out Iran’s deeply buried Fordow uranium enrichment site can only be completed by the United States, and only one man can decide to take such action: President Trump. “Fordow is built into the mountains near Qom, encased under at least 300 feet of limestone,” note the authors. In his former role Gallant “devoted considerable time and effort to considering” the possible ways Israel could disable Fordow alone; he and his colleagues in the Israeli defense establishment concluded they could not succeed without US assistance. “Only one air force has the power to finish off Fordow. The United States designed and built the GBU 57A/B Massive Ordnance Penetrator (MOP) precisely for such a task,” and only American B-2 Spirit bombers can deliver this powerful munition. Gallant and Ferguson conclude, “This is a rare moment when strategic alignment and operational momentum converge. It must not be missed.” Read more here.
Answering Challenges to Advanced Economies
Writing at Defining Ideas, Research Fellow David R. Henderson reviews Crushing Capitalism: How Populist Policies Are Threatening the American Dream by Cato Institute economist Norbert J. Michel. Henderson finds that the author “lays out massive amounts of data that show things are getting better for most Americans, many government interventions slow that improvement, and further government intervention would slow it further.” Henderson’s review examines, among other topics, pay in manufacturing jobs versus the service sector; the question of whether real wages have stagnated; the impact of the “China shock” across the US; and how poverty is falling. Henderson concludes, “The American dream is alive and well. Almost everyone is becoming better off. Michel is right to argue that policies based on a misconception of the state of the US economy are dangerous and could slow the growth in economic well-being.” Read more here.
In a new policy brief from the Healthcare Policy Working Group, Ted Cho and Brian J. Miller examine the “valley of death” between FDA approval of new medical devices or drugs and Medicare coverage, where statutory standards and regulatory processes delay patients’ access to innovation. The authors, both medical doctors, highlight the consequential economic and medical costs of this gap, review prior Medicare coverage reform efforts, and offer targeted policy recommendations to provide regulatory clarity, streamline the coverage decision process, and ultimately expand access to medical innovations. Cho and Miller stress that there is an urgent need for Centers for Medicare and Medicaid Services (CMS) reform. Policymakers and CMS can provide clarity of coverage principles, improve local coverage determination processes, and expand transparency to facilitate access to innovation. Read more here.
For the latest episode of Capitalism and Freedom in the Twenty-First Century, Policy Fellow Jon Hartley interviews investor and life member of the Council on Foreign Relations J. Kyle Bass. Hartley and Bass discuss Bass’s career and upbringing, the 2000s housing crisis, and the European sovereign debt crisis of the 2010s. The duo also dives into the rise and fall of Japan’s economy, China’s rising aggression and decoupling from the US, and why the US remains the best place in the world to continue to invest as an innovation hub. Watch or listen here.
Revitalizing History
For a new episode of Secrets of Statecraft, Andrew Roberts interviews British historian Timothy Pleydell-Bouverie. Bouverie shares insights from his new book Allies at War: The Politics of Defeating Hitler. His research illuminates the knotty diplomatic dilemmas faced by Churchill, Roosevelt, and Stalin as they overcame political, ideological, and personal differences to confront the Axis powers led by Hitler’s Nazi Germany. Bouverie provides a textured analysis of Churchill’s and Roosevelt’s views on the war and plans for the postwar period. Like other guests on Secrets of Statecraft, Bouverie also shares what history book he is reading currently as well as a favorite historical counterfactual. Listen here.
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